After my annual medical on 3/1/07, I decided that I needed to improve my lipid profile. My strategy was to take 500 mg niacin and one capsule of red yeast rice. My blood was tested again on 9/5/07.
Total cholesterol dropped from 248 to 217.
LDL went from 166 to 130
HDL increased from 48 to 76!!!
My LDL:HDL ratio decreased from 3.46 to 1.81 (by almost a half!)
Unexpectedly, my triglycerides fell from 171 to 76!

On a blind test where my husband didn't know he was taking it, his cholesterol level was lowered for the first time in several years from about 210 to 186 (in only 1 1/2 months of taking the red yeast rice). I'd say it works!

Beginning 1/1/09, I started taking this twice daily with a seperate 50mg CoQ10 each dose after a 12/13/08 blood test showed my cholesterol was 253 (44-HDL, 175-LDL, 172 Triglycerides).
Last blood test 7/17/09: cholesterol 224 (60-HDL, 135-LDL, 144 triglycerides).
To give this product a completely fair test, I changed nothing else in my diet or lifestyle. I am 5/11, 215#. I drink alcohol daily and get some, but not consistent, exercise. I would expect better results with changes to diet and lifestyle, which I plan to do. Since I waited 6 months to get blood test results, I cannot say how quickly the product acutally worked - It may have had a shorter period impact and for some, it probably does.
Some have commented that taking the product version that included CoQ10 gave better results, but I decided to take the CoQ10 separately because it is cheaper than buying the product with it already incorporated.
Based on the results of my trial, I would say with confidence that the product does indeed work, with results varying by individual.